With $200 billion in annual buying power, millennials have become one of the biggest factors in marketing strategies.
So, it's safe to say it's essentially not an option to miss the mark when it comes to marketing to millennials.
But, ironically, many marketing companies are struggling to successfully capture the attention of this influential generation due to traditional advertising and marketing methods failing to grasp the mindset of the highly-educated, loyal generation.
If your company has been constantly asking themselves how to market to millennials, it's your time to shine with these seven, highly effective tips on successful millennial marketing.
Why Should You Market To Millennials?
You might be asking yourself why it's so dire to market specifically to millennials when you can be marketing toward the general population. For starters, millennials are the largest segment of the population as they'll make up 75 percent of the workforce by 2030.
And, millennials are the most studied generation in history, which means all of the questions about millennial's thinking and spending habits have already been answered for you. Now, all you need to do is take that substantial information and apply it to your targeted marketing plan in the ways we discuss below.
1. Focus On Experiences
You're no longer selling products or services, you're selling experiences. Millennials are all about their experiences, and they will surely pass up your brand and move on to the next one if your experience isn't up to par with your competitors.
Focus on selling that intangible feeling a consumer would get when they use your product or take part in your service. At the same time, give your brand and your products a story and promote that story within your marketing strategy as much as possible.
Because, to millennials, it's not about buying the best cooler, it's about buying the cooler that will give them the best beach day they've ever had. It's about the beauty box they look forward to getting in the mail every month with new makeup and skincare samples.
2. Incorporate Their Values
Millennials are incredibly passionate about community, the environment, technology, and health, and it's important to incorporate those values into your marketing strategy. This generation also likes to do business with brands that are giving back to their community and making a difference in the world.
If your company values relate to millennial's, your company will see a drastic increase in success. If they don't, well, you might just see your company plummet.
3. Don't Forget About Video
High-quality videos are no longer an option when it comes to marketing. Videos do what ads, blogs and promotions can't- they appeal to people on an emotional level. And, not only are videos easily shareable, but they're also a great way to separate yourself from your competitors.
Plus, if done right, video marketing can tell your brand's story and promote experiences, which we discussed the importance of earlier. So, you would be killing two birds with one stone by focusing more of your efforts on video.
4. Content Marketing Will Forever Thrive
If you're doing one thing right so far, it's probably content marketing, and don't think that it's a dying trend because it's not going anywhere anytime soon. And, if you haven't capitalized on this technique yet, it's time to do so.
Millennials crave authentic content that's both relatable and shareable. You're not an infomercial, so don't make your content too "salesy" as millennials will move on to the next brand. Create content that represents your brand but doesn't scream "buy me". Some brands you can take a look at that exemplify this technique well are Lola and Grove.
Millennials also don't want to be bombarded with an influx of content. So, instead of trying to pump out insane amounts of content every week, think quality over quantity. Yes, a little more thought and preparation goes into this technique, but the results are worth it. We promise.
Take a look at this company to learn more about content marketing and how you can successfully incorporate it into your marketing strategy.
5. Forget About Outbound Marketing
You know those radio commercials, magazine ads and direct mail campaigns you've been investing in? Forget about them.
Not only are millennials not impressed with these outbound marketing techniques as they lack authenticity and relativeness, but they also don't trust them at all. In fact, a whopping 84 percent of millennials don't trust traditional advertising.
Millennials are highly educated and, when they know what they want, they know how to go find it. So, those ads you've been trying so hard to get in front of millennials are essentially seen as intrusive.
6. Reviews. Reviews. Reviews
If you think that reviews aren't part of a marketing technique, you're wrong. Reviews are, hands down, one of the most critical factors when it comes to marketing toward millennials. Reviews show your audience that your products and services do, in fact, work. They also help to build that trust that the majority of millennials are craving.
However, make sure your reviews are genuine as millennials are the first ones to spot out a fake review, which can come back to hurt you more than you could imagine.
7. Influencer Marketing Isn't Going Anywhere
We're sure you've heard about the benefits of influencer marketing, but, the question must be asked- are you implementing this technique as much as you should be?
Influencer marketing is like the ultimate, tech-savvy form of word of mouth marketing, which we all know is powerful. These influencers have a devoted audience that trusts their judgment and referrals. These audiences can range from 5,000 local individuals to 500,000 global individuals. And, fortunately, both audiences are effective.
So, find some influencers whose values and passions align with your brand. Then, send them your products and pay them (yes, pay them) to post a few photos and creative Instagram stories incorporating and reviewing your brand.
When it comes to millennials, the ROI of influencer marketing is much, much higher than that of traditional marketing techniques.
How To Market To Millennials
Effectively marketing to millennials is a complete game changer. And, while you might have struggled with it before, it's time for you and your company to hit this nail on the head.
So, instead of asking yourself how to market to millennials, start incorporating these highly effective tips into your marketing strategy and watch your company grow exponentially.
Did you enjoy this article? If so, take a look at our digital marketing articles for more noteworthy tips and tricks.